80th Texas Legislature, Regular Session, Senate Bill 1153, Chapter 543 Page: 4 of 10
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S.B. No. 1153
1 FORMS. (a) The commissioner shall, in the manner prescribed by
2 this subchapter:
3 (1) fix and promulgate the premium rates to be charged
4 by a title insurance company or by a title insurance agent for
5 personal property title insurance policies under this chapter; and
6 (2) prescribe the forms to be used in connection with
7 those policies.
8 (b) A premium may not be charged for a personal property
9 title insurance policy or for another prescribed or approved form
10 at a rate different than the rate fixed and promulgated by the
11 commissioner.
12 (c) The commissioner may not limit the number of forms for
13 personal property title insurance if the forms meet the
14 requirements of this title.
15 Sec. 2751.052. FACTORS CONSIDERED IN FIXING PREMIUM RATES.
16 (a) In fixing premium rates, the commissioner shall consider all
17 relevant income and expenses of title insurance companies and title
18 insurance agents attributable to engaging in the business of
19 personal property title insurance in this state.
20 (b) The premium rates fixed by the commissioner must be
21 reasonable, adequate, not unfairly discriminatory,
22 nonconfiscatory, and not excessive.
23 Sec. 2751.053. HEARING REQUIRED. (a) Before a premium
24 rate may be fixed and forms adopted for personal property title
25 insurance under this chapter, the department must provide
26 reasonable notice and a hearing must be afforded to title insurance
27 companies, title insurance agents, and the public.4
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Texas. Legislature. Senate. 80th Texas Legislature, Regular Session, Senate Bill 1153, Chapter 543, legislative document, June 15, 2007; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth155608/m1/4/?q=%22Deshotel%20%22: accessed May 22, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.